UNITED KINGDOM December 30 2016 3:33 PM

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices remained stable at €422 a ton during the week ended October 28, as per the latest figures from the Steel Index.

This week many market participants were attending the EuroBlech exhibition in Hanover, Germany, and we should soon expect to see the results of conducted negotiations. 

Discussions about halfyearly and annual contracts for 2017 have also commenced, with indications that mills are pushing for significant increases.

Some major North European steel producers announced hikes to their coil prices, citing increased raw materials costs, reportedly setting their HRC asking prices near €500 a ton. 

This is yet to translate into higher spot prices, as trading activity was slow, and TSI’s index closed at €457/t.